Chainalysis co-founder and CEO Michael Gronagar has taken a personal leave of absence from the company. The blockchain analysis group did not specify the reason, but said the development was temporary.
According to The Block, which first reported the news, Chainaloss president and COO Sari Granat, who joined the company in 2022, will serve as interim CEO.
Ten-year-old, New York-based Chaina Analysis quickly developed a reputation as a “crypto detective” working on behalf of the U.S. government and corporate clients. A year ago, Chainalysis laid off more than 15% of its 900 employees and plans to focus more on government contracts, according to The Block.
The organization, whose early investors include Benchmark, was valued by investors at $8.6 billion in its sixth funding round in 2022. Cryptocurrency investor Katie Horn, who was the first federal prosecutor to discover Chainalysis, reportedly began buying secondary shares in the company in 2020. It was valued at $2.5 billion in April of this year.